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Nov 28, 2012
11/12
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we take no tax money. what we operate on, what comes in the door in terms of revenue, stamps and packages. the situation is this. we have two major issues that we're facing. number one volume has dropped. people pay their bills online. we lost about 25% of our volume in the last five years. now our people have done a nice job taking costs to balance that out. the other issue we're faced with is we're required by law to prefund retirement health care for people who haven't retired to the tune of $5.5 billion a year. that's what's hurting us. a volume drop, we've not been able to make this payment. >> you going cut saturday delivery >> we're asking congress to act right now. number one, we need to refinance the payment for the retiree health benefits. we're not asking to get dig out from under, but rather than pay 5.5 billion a year we should pay a billion. second thing we want to eliminate saturday delivery of mail not package, just mail. post offices would be open on saturday. >> why not privatize? >> it's
we take no tax money. what we operate on, what comes in the door in terms of revenue, stamps and packages. the situation is this. we have two major issues that we're facing. number one volume has dropped. people pay their bills online. we lost about 25% of our volume in the last five years. now our people have done a nice job taking costs to balance that out. the other issue we're faced with is we're required by law to prefund retirement health care for people who haven't retired to the tune of...
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it's been budgeted based off of what we spend on our taxes. the bulk of it is going there. 20% is going to defense. discretionary spending about 13% then the 7% interest which is the interest that we are paying on our debt. that's also mandatory. we have to make good on our debt. >> which is why anybody serious about the debt says you have to look at entitlements. based 0en that. where are the areas for compromise? >> so when you look at where they're talking about cutting spending it's in the discretionary category. about $600 billion in discretionary spending is on the table now. when you actually look at the programs like social security and medicare one of the ideas for compromise that's been on the table is increasing that age. the availability of medicare begins at 65. if you were to increase it to 67, about $250 billion in savings. also, if you look at medicare cost sharing. this is from the provider. if you go back to the providers to provide medicare and say to them, we need you to come around and provide, pony up a little bit of the
it's been budgeted based off of what we spend on our taxes. the bulk of it is going there. 20% is going to defense. discretionary spending about 13% then the 7% interest which is the interest that we are paying on our debt. that's also mandatory. we have to make good on our debt. >> which is why anybody serious about the debt says you have to look at entitlements. based 0en that. where are the areas for compromise? >> so when you look at where they're talking about cutting spending...
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Nov 29, 2012
11/12
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increase.complicity and tax rate theyease. sted.hey're not interested. >> you're not going to grow the ou raiseif you raise tax rates on the top two rates. smalll hurt small businesses. econill hurt our economy. approach.y this is not the right r: toach. anythis impasse is one of many geithnerreasury secretary tim geithner, mr. obama's lead with t negotiator, will have meetings e bowlesth top congressional thisrs. othpson bowles met with all the ue.yers at both ends of 'mnnsylvania avenue. >> i'm not more optimistic or less optimistic. puthopeful but don't put me e nearnywhere near the optimistic category. tove got a long way to go and a likefew days to get it done. >> lindsey graham from south carolina have offered to break a revenueax increase pledge and ntise revenue as part of a deal but graham now is pulling back until the president offers ntitlement reform. a i've not seen one deal from country downouse that deal with medicare, medicaid and social security which are all going to fail and take this country down the road o
increase.complicity and tax rate theyease. sted.hey're not interested. >> you're not going to grow the ou raiseif you raise tax rates on the top two rates. smalll hurt small businesses. econill hurt our economy. approach.y this is not the right r: toach. anythis impasse is one of many geithnerreasury secretary tim geithner, mr. obama's lead with t negotiator, will have meetings e bowlesth top congressional thisrs. othpson bowles met with all the ue.yers at both ends of 'mnnsylvania...
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Dec 4, 2012
12/12
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republicans remain opposed to raising income tax rates. overall, their plan is lighter on taxes and heavier on spending ing cuts than the white house prefers. gop offered $800 billion in tax increases by eliminating or reducing unspecified deductions. $600 billion in entitlement cuts and $300 billion. white house wanted $600 billion in cuts but no inflation to adjustments. republicans also want to raise the eligibility age for medicare. the white house does not. there are other differences. nothing matters more to the white house than breaking gop resistance to higher taxes on the wealthy. >> the president certainly has principles here that he intends to stick to which is that he will not sign an extension of the bush era tax cuts for the top 2%. >> erskine bowles said as big as the divide appears, despair is premature. >> that is just like a movie theater you go through each one of these. to get a deal done i am positive you will have to have increased tax rates on the top 2%. i'm also sure that the cuts that the president put on the tabl
republicans remain opposed to raising income tax rates. overall, their plan is lighter on taxes and heavier on spending ing cuts than the white house prefers. gop offered $800 billion in tax increases by eliminating or reducing unspecified deductions. $600 billion in entitlement cuts and $300 billion. white house wanted $600 billion in cuts but no inflation to adjustments. republicans also want to raise the eligibility age for medicare. the white house does not. there are other differences....
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Dec 3, 2012
12/12
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the president will continue to publicly campaign for a tax cut on people making less than $200,000 a year. but look, there are negotiations under way while all this is going on at the staff level. most of what we're hearing in public from both sides is just tough talk. the democrats i've talked to on he hill, and i've talked to a ofber of them, think there will be a solution. many republicans not as sure. >> bill plante, thank you. >>> police say they don't yet know why kansas city chiefs linebacker jovan belcher killed hi his girlfriend and then killed himself. we're at kansas city's arrowhead stadium where belcher's teammates played a game on the day after this murder suicide. manuel, good morning. >> reporter: good morning, norah. the chiefs' coach said it was teammates themselves who helped him decide to go ahead with eesterday's game. if for no other reason than to few their minds off the tragedy hor just a few hours. the kansas city chiefs beat the panthers panthers, 27-21, on sunday. tion -- ne, had they got that completion on the sidelines. >> reporter: but the win was no mat
the president will continue to publicly campaign for a tax cut on people making less than $200,000 a year. but look, there are negotiations under way while all this is going on at the staff level. most of what we're hearing in public from both sides is just tough talk. the democrats i've talked to on he hill, and i've talked to a ofber of them, think there will be a solution. many republicans not as sure. >> bill plante, thank you. >>> police say they don't yet know why kansas...
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Dec 5, 2012
12/12
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overall and no movement on higher income tax rates. they want to cut unnamed tax bre breaks and deductions, which they say will do more to boost economic growth. the white house considers the proposal and economic rationale behind it laughable. >> we don't know what we're talking about in terms of actual legislation to increase revenues. it's magic beans and fairy dust. >> reporter: republicans answered back ba-humbug. >> this is absolutely not serious and the administration knows it. >> reporter: six governors, three from each party, met the president and said acid they believe business leaders in their states won't invest and hire until a deal gets done. >> until this gets resolved in a way that's not a three-month fix but for some longer period of time, the better off we'll be. >> reporter: the white house says it has nothing new to say to republicans and at bottom of the hour, the president will meet here. meanwhile mitt romney's running mate, paul ryan said in a speech last night it's time for the republican party to change its ap
overall and no movement on higher income tax rates. they want to cut unnamed tax bre breaks and deductions, which they say will do more to boost economic growth. the white house considers the proposal and economic rationale behind it laughable. >> we don't know what we're talking about in terms of actual legislation to increase revenues. it's magic beans and fairy dust. >> reporter: republicans answered back ba-humbug. >> this is absolutely not serious and the administration...
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Nov 30, 2012
11/12
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threatening to withhold tax funds. he says he is willing to begin peace negotiations. >> egypt's parliament, dominated by conservative muslims approved a new constitution early this morning. the assembly's more moderate members are crying foul. it is sparking another day of protests against president mohamed morsi. morsi's supporters plan to stage a massive demonstration tomorrow. holly williams is in cairo and has been watching this whole crisis unfold. >> reporter: a week after president mohamed morsi gave himself broad new powers that some egyptians say make him a dictator in all but name his islamist allies have rushed to finish a final draft of the country's constitution. it could now be put to a referendum before the end of the year. protests and violent clashes in cities across egypt, president morsi defended his power grab last night on egyptian state tv. he said his new authority is needed to guide egypt through its democratic transition and that he will give up his expanded powers once the country has a new c
threatening to withhold tax funds. he says he is willing to begin peace negotiations. >> egypt's parliament, dominated by conservative muslims approved a new constitution early this morning. the assembly's more moderate members are crying foul. it is sparking another day of protests against president mohamed morsi. morsi's supporters plan to stage a massive demonstration tomorrow. holly williams is in cairo and has been watching this whole crisis unfold. >> reporter: a week after...
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Dec 1, 2012
12/12
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if you clear away everything and look at the tax rates the president says tax rates have to go up on the wealthy by some amount. republicans are saying no we won't have any vote to raise tax rates and that's an impasse -- we don't see how we get around that. >> the president is embolden by his alexandria victory. he's taking it out to folks out on the street. he's acting like he feels he has a mandate to ask for these tax increase. do you think that's going to work? >> he thinks he has a mandate and if we go over the cliff the republicans will be blamed. he thinks the pressure of that will get the republicans to buckle. the tax rates will go up the easy way or the hard way. will it work? we have to guess at the public opinion. right now public opinion is on the president's side but that's in the abstract. if we see economic effects that affect real people we don't know how that ball bounces. >> i wonder if going over the cliff gives some political cover for politicians to compromise down the road? >> it gives cover and pressure. cover is a give. with republicans all of a sudden taxes
if you clear away everything and look at the tax rates the president says tax rates have to go up on the wealthy by some amount. republicans are saying no we won't have any vote to raise tax rates and that's an impasse -- we don't see how we get around that. >> the president is embolden by his alexandria victory. he's taking it out to folks out on the street. he's acting like he feels he has a mandate to ask for these tax increase. do you think that's going to work? >> he thinks he...